The Grate Income Tax Debate - Should the wealthy pay more The debate surrounding whether high income taxpayers should pay more is as old as the tax code itself. As a first step in determining if any change is even possible is to understand the debate itself. I hope you will stay with me in this seriesof articles. At the end of the day, it is unlikely that we will have an answer but perhaps we will be better informed when it comes to evaluating proposals and better informed when voting time rolls around. Concerns about the economic effectiveness, fairness, and growing complexity of the current tax system raise questions about its credibility. These concerns have led to a growing debate about the fundamental design of the federal tax system. The debate includes the type of base-income or consumption –and the rate structure-flatter or more progressive. Additionally, some question to what extent and how the tax system should be used to influence behavior and social policy. Agreement is of course hard to come by if not just plain impossible. One thing that most seem to agree on is that absent policy changes, the federal budget is on an unsustainable path. Known demographic trends and rising health care costs will cause ultimately unsustainable deficits and debt that will threaten national security as well as the standard of living for the American people in the future. st |
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CategoriesPay the least amount of taxes as the law allowsThe Great Income Tax Depate - Should the wealthy pay more Web Site |
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